GfK NOP Consumer Confidence - February 2010

Index Score January 2009 - February 2010

Indexonlyfeb10
Indexonlyfeb10

Consumer Confidence increases for the second time

  • The GfK NOP Consumer Confidence Index rose by three points this month to -14.
  • Confidence in "general economy” over the last 12 months has risen by seven points to -50.
  • Confidence in general and confidence in their own personal situation in the next 12 months have both increased.
  • The ‘major purchase Index’, has stayed the same at -16.

Nick Moon, MD of GfK NOP Social Research comments, "The government will be pleased to see the overall index continuing to rise, and only one point short of its recent peak. It is still almost inconceivable that the index will be in positive territory by the election, but so long as it continues to rise, the government will continue to hope that people associate their improving mood with actions taken by the government. It is also significant that, for the second month running, the biggest gains in individual elements of the index were for the view of the economy in general over the last and next 12 months.”

UK Consumer Confidence Measures – February 2010

The overall index score this month rose by three points and is now at a score of -14, twenty one points higher than this time last year. Four of the five measures this month increased with the remaining measure staying the same as January 2010. The annual moving average also improved and is now -22.

Measure

Feb 10

Jan 10

Feb 09

Overall Index Score

-14

-17

-35

Personal Financial situation over last 12
months

-13

-14

-18

Personal Financial situation over next 12 months

6

4

-8

General Economic situation over last 12 months

-50

-57

-82

General Economic situation over next 12 months

4

-2

-40

Climate for major purchases

-16

-16

-24

Personal Financial Situation

The index measuring changes in personal finances during the last year has increased by one point this month with a score of -13; this is five points higher than this time last year.

The forecast for personal finances over the next year increased by two points to a score of +6, this is fourteen points higher than February ‘09.

General Economic Situation

The measure for the general economic situation of the country during the last twelve months has risen by seven points to –50; thirty-two points higher than this time last year.

An expectation for the general economic situation over the next twelve months has increased by six points to +4, this is fourty-four points higher than February ‘09.

Climate for Major Purchases

The major purchases measure has stayed the same this month at
-16; eight points higher than this time last year.

Savings Index

The ‘now is a good time to save’ Index has decreased four points to -6, which is  nineteen points higher than February ‘09.

About the GfK NOP Consumer Confidence survey

Any published material requires a reference to both GfK NOP and the European Commission e.g. ‘Research carried out by GfK NOP on behalf of the European Commission’.

  • The UK Consumer Confidence Survey from GfK NOP was conducted amongst a sample of 2000 individuals aged 16+ on behalf of the European Commission.
  • Quotas are imposed on age, sex, region and social class to ensure the final sample is representative of the UK population.
  • Interviewing was carried out during 5th – 14th February 2010.
  • The figures contained within the Consumer Confidence Barometer have an estimated margin of error of +/-2%
  • Results for the Consumer Confidence Barometer are available on the last working day of each month at 00.01am. The next release is Wednesday 31 March 2010.
  • This study has been running since 1974. Back data is available from 1996.

The table below provides an overview of the questions asked to obtain the individual index measures:

Personal Financial Situation
(Q1/Q2)

This index is based on the following questions to consumers: How has the financial situation of your household changed over the last 12 months?’
Q2 ‘How do you expect the financial position of your household to change over the next 12 months?’
(a lot better –  a little better – stayed) the same –a little worse - a lot worse)

General Economic Situation
(Q3/Q4)

This index is based on the following questions to consumers: ‘How do you think the general economic situation in this country has changed over the last 12 months?’
‘How do you expect the general economic situation in this country to develop over the next 12 months?’
(a lot better –  a little better – stayed) the same – a little worse - a lot worse)

Climate for Major Purchases
(Q8)

This index is based on the following question to consumers: ‘In view of the general economic situation, do you think now is the right time for people to make major purchases such as furniture or electrical goods?
(right time – neither right nor wrong time – wrong time)

Savings Index
(Q10)

This Savings index is based on the following question to consumers: ‘In view of the general economic situation do you think now is?”
(a very good time to save – a fairly good time to save – not a good time to save – a very bad time to save)
(Commented on but not included in the Index score)

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Ccbcharts _february 2010_
CCB Press Release February 2010

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For more information or interviews on GfK NOP's Consumer Confidence index, please contact:

Allison Joyce
PR Manager
020 7890 9000
Allison.Joyce@gfk.com